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BC Tech Companies Close 40+ 'Merger and Acquisition' Deals in 2022: Top 5 Deals Worth $12.1 Billion
Wednesday, January 11, 2023
Traction on Demand signed a definitive agreement to be acquired by tech giant Salesforce in a notable transaction in February 2022 (company staff pictured above: Credit Traction on Demand)
Vancouver, BC, January 11, 2023--(T-Net)--BC tech companies closed over 40 large multi-million dollar merger and acquisition deals in another significant active year in 2022, as reported on by T-Net.
The top 5 merger and acquisition transactions in BC this year were valued at a collective $12.1 billion, or an average of approximately $2.4 billion each (with four notably large transactions).
As a point of reference, the top 10 M&A transactions in the prior year (2021) accounted tor a total transaction value of less than half this amount at $5.3 billion (in publicly available disclosed transactions).
While there were over 40 M&A transactions reported by T-Net over the past year, the vast majority of these did not disclose the total dollar amount of their merger or acquisition (as is usual, for competitive purposes).
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So rather than list the top 10 transactions by "total dollar amount" (as we did last year and often do), listed below are 10 of "some of the most important merger and acquisition transactions" we reported on over the past year.
(these were determined using hard transaction numbers when publicly disclosed and available, but also some "guesstimation" or informal judgement on other major non-publicly disclosed transactions, which we presume likely to be relatively large or important based on the histories of the companies involved).
Here are the 10 of the Top BC Tech Industry Mergers and Acquisitions completed in 2022 as reported on by T-Net over the past 12 months:
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M&A Amount: $7.3 Billion CAD |
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Burnaby, BC, November 8, 2022--Ritchie Bros. Auctioneers Incorporated (NYSE: RBA, TSX: RBA), and IAA, Inc., announced that they have entered into a definitive agreement under which Ritchie Bros. will acquire IAA in a stock and cash transaction valued at approximately $7.3 billion including the assumption of $1.0 billion of net debt. |
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2. TELUS Announces Agreement to Acquire LifeWorks (formerly Morneau Shepell) for $2.3 Billion |
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M&A Amount: $2.3 Billion CAD |
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Burnaby, BC, June 16, 2022--TELUS Corporation (TSX: T; NYSE: TU) announced that it has entered into a definitive agreement to acquire LifeWorks, Inc. (TSX: LWRK) for $33.00 per share, approximately $2.3 billion (plus the assumption of net debt of approximately $600 million). |
Snapshot | Profile | News (167) | Follow ----------------------------------------------------------------------- |
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M&A Amount: $1.6 Billion CAD ($1.2 Billion USD) |
| Snapshot | Profile | Jobs (31) | News (108) | Follow |
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M&A Amount: $430 Million CAD SPAC Deal ($340 Milion USD) Burnaby, BC, August 9, 2022--DPCM Capital, Inc. (NYSE: XPOA), a publicly traded special purpose acquisition company, announced the completion of its business combination with D-Wave Systems Inc., a leader in quantum computing systems, software, and services—and the only provider building both annealing and gate-model quantum computers. |
| Snapshot | Profile | News (56) | Follow |
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6. Traction on Demand Signs Definitive Agreement to Be Acquired by Tech Giant Salesforce |
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M&A Amount: Not Disclosed |
| Snapshot | Profile | News (7) | Follow |
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7. Vancouver-based SaaS Platform Developer Canalyst Acquired by Tegus in Major Transaction |
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M&A Amount: Not Disclosed Vancouver, BC, August 3, 2022--Tegus, developers of a leading research platform for investors, announced that it has acquired Vancouver-base d Canalyst, creating a new industry standard for modern research. |
| Snapshot | Profile | News (4) | Follow |
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8. Vancouver-based Tasktop Technologies (200+ Employees) Acquired by Planview in Strategic Acquisition |
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M&A Amount: Not Disclosed Vancouver, BC, May 18, 2022--Planview, a global leader in Portfolio Management and Work Management, announced that the company has entered into a definitive agreement to acquire Tasktop, a pioneer and leader in Value Stream Management (VSM). |
| Snapshot | Profile | News (21) | Follow |
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M&A Amount: Not Disclosed (The combination was funded with a $135 million strategic investment by global growth equity investor Summit Partners) Vancouver, BC, April 28, 2022--Mavrck, a leading influencer marketing platform for enterprise consumer brands, announced it will join forces with Vancouver-based Later, a leading social media marketing and commerce platform for small business owners and creators. The combination was funded with a $135 million strategic investment by global growth equity investor Summit Partners and represents a follow-on to the firm's December 2021 $120 million investment in Mavrck. |
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M&A Amount: Not Disclosed Vancouver, BC, April 27, 2022--PDFTron Systems Inc., a leading provider of digital content solutions for software developers, announced that it has acquired iText Group NV, the leading global open source PDF technology company. |
| Snapshot | Profile | News (16) | Follow |
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----------------------------------------------------------------------- Editor's Note: If we have missed anyone who you feel should be added to this list and have publicly available details, please email us at technews@bctechnology.com and we will review for possible addition. ---------------------------------------------------------------------- Note: If you would like to receive a custom report of all of the Top 40 M&A transactions completed by BC Tech Companies in 2022 (ranked by size of M&A amounts completed, and with substantial details on each transaction), and/or subscribe to T-Net's private automated 'BC Tech Acquisitions Alert' paid service (receive real time daily alerts by text or email), please contact us . ---------------------------------------------------------------------- About T-Net Our purpose is to provide information and business services to technology companies, industry suppliers and individuals within the BC technology industry which helps them achieve their full potential and strengthens the overall technology community. T-Net operates the leading "portal" web site for the high tech industry in BC. T-Net currently receives over 14.0 million "hits" and over 450,000 website visitors each month. Our customer base includes over 500 of BC's largest and fastest growing technology companies and many of BC's leading industry suppliers. Disclaimer: News and information regarding mergers and acquisitions and companies on T-Net is subject to continual change without notice and possible errors and/or omissions. Information within this news release regarding recent M&A activity in BC is of a general nature intended only for informal informational purposes, and such information should not be relied upon under any circumstances. T-Net does not warrant or guarantee the quality, accuracy or completeness of such information and expressly disclaims liability for any loss, inconvenience or damages (including special, indirect or consequential damages) caused as a result of any errors in, or omissions from, such information. If you see an error, please let us know, and we will be pleased to update it. This information may not be republished or repurposed for any reason without T-Net's explicit written permission. Copyright T-Net. All rights reserved. |
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Richmond, BC (Wireless)
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Burnaby (south), BC (Non-Tech Sectors)
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Burnaby, BC (InfoTech)
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Burnaby (Other Tech Sectors)
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Burnaby (Other Tech Sectors)
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